CONDITION PRECEDENT

Fact or event that creates an absolute duty to perform.

 

 

COVENANT

An absolute, unconditional promise to perform.

 

 

GUARANTEE

Promise to answer for the debts of another; must be in writing.

 

 

PAROL EVIDENCE RULE

Oral testimony may not be used to vary the terms of a writing.

 

 

RULES OF CONSTRUCTION

Guidelines used by the courts to interpret contractual provisions.